Dhaka, Oct. 20 -- The Bangladesh Securities and Exchange Commission (BSEC) has allowed 12 subsidiaries of nine non-bank financial institutions (NBFIs) to continue operating, with eight given deadlines to address capital shortfalls.

Four subsidiaries can continue without extra time. Of the eight facing capital gaps, one has until December and seven until April next year to meet requirements.

The BSEC announced the decision after a commission meeting on Monday.

It said the subsidiaries belong to nine institutions whose licences are being processed for cancellation by Bangladesh Bank.

Those given six and a half months include International Leasing Securities, Fareast Stocks and Bonds, and FAS Capital Management.

In August, Bangladesh Ba...